G+T helps automotive group cruise onto the ASX

The firm says that the company’s IPO is “the equal largest” so far in 2021

G+T helps automotive group cruise onto the ASX

Gilbert + Tobin (G+T) has guided the Peter Warren Automotive Group on its ASX listing and IPO.

The company has a market capitalisation of $483m and an enterprise value of about $460m following the raising of $260m; as a result, Peter Warren has recorded the “equal largest IPO so far this year,” the firm said.

“The IPO brings to market the family businesses founded by the Warrens and Frizelles with Quadrant’s backing. It’s great to see the businesses with such a strong history and culture supported by public market investors,” G+T lead partner Rachael Bassil said.

Bassil’s team consisted of corporate advisory lawyers Olivia Blakiston, Shananne Joyce, Callum Hinwood, Michelle Lee, Matt Coe, Kevin Zhou, Kim Nguyen and Mason Cohen. The team also received assistance on the property aspects of the deal from real estate and property partner Amanda Hempel, special counsel Jo Bayes and lawyer Neville Mirza.

Meanwhile, technology and digital partner Tim Gole provided input on shared services arrangements alongside lawyer Meaghan Powell.

Launched in 1958, Peter Warren comprises a group of automotive dealerships. It runs 17 dealerships in Sydney, northern NSW and southern Queensland. The company unloads up to 30,000 new and used cars each year. 

Earlier this month, G+T also confirmed its role in Viva Energy Group Limited’s US$700m refinancing of its corporate debt facilities.

The firm applied its expertise in coordinating large syndicated debt financing as it advised the energy company on the transaction. Banking and infrastructure partner Spiro Papadolias led G+T’s team, which included lawyers Corrie Eames and Lee Lancaster.

Papadolias said that the refinancing of Viva Energy’s syndicated revolving credit facility would help the company to “secure its strategic objectives going forward” by providing the foundation for its operational goals and growth plans moving forward.

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